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  FOX News    FOX Report    News/Business. New.  

    July 31, 2011
    7:00 - 8:00pm EDT  

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plots, more characters than you can keep track of and talking about both of them repels girls (laughter) . >> thanks for inviting us into your home. that's it for this special report. fair, balanced, we're on it, keep it here and unafraid. >> . >> it's time to deal with you can can they? just in from the democratic leader in the house, none of them may be able to support the bill to raise the debt limit. can the republicans do it without them and if not, then what? our mortgages, credit cards, and student loans are all on the line. not to mention payments to soldiers and seniors. tonight, the standoff in washington goes down to the wi wire. >> many members would probably
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like to leave the capitol if we're not going to be voting. >> and i would not suggest-- >> plus, the battle is already taken a toll on the markets. can and our retement funds. now, some experts warn we're at a bigger risk for another recession. recession. >> but first from fox this sunday night, the senate majority leader, harry reid says he will support a tentative deal to raise the nation's debt limit as long as other democrats are on board. but they are not all on board, as fox reports live tonight. in fact, some of them say they're furious about the details after possible agreement, with two days to go until the feds say they'll start running out of money to pay the nation's bills. leader reid telling fox news he hopes for a final agreement sometime tonight. and the senate republican leader, mitch mcconnell saying they're quote, really, really
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close. >> the potential agreement that you just outlined is within our reach. we will avoid default, avoid raising taxes, and begin to get the federal government's house in order. >> we're cautiously optimistic. there are a number of issues yet to be resolved. each of them must be be resolved before we have a final agreement and as we know, one problem could stop the whole agreement from going forward. >> tonight, both liberal democrats and the conservative republicans say they have real problems with what they're hearing about a possible deal, but the white house insists there is no agreement, not yet. team fox coverage. henry at the white house and mike emanuel. >> it's designed to cut over the next ten years, debt selling increase roughly 2.4 trillion dollars to get to 2013, a key point for
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president obama. spending cuts roughly 1 trillion dollars upfront. a special committee to recommend cuts of 1.4 trillion dollars to match the debt ceiling increase. the committee must make recommendations before thanksgiving recess. if congress doesn't approve those cuts by late december, automatic across the board cuts go into effect including medicare and the deal would include congress voting on a balanced budget amendment and those are some of the details members are getting a look at some of the other details tonight, shep. >> nancy pelosi said in a little while she didn't think that any of other-- it's possible that no democrats might be able to pass this and i mention complaints from both sides of the aisle. >> no question about that. there are conservative republicans who are extremely concerned about proposed cuts to defense spending. they're worried about the impact on our armed forces after we've been at war for a decade. already stretched, and so a lot of republicans say that may hurt votes in temps of up to 40 members of the house
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armed services committee. now, liberals are also extremely upset. members of of the black caucus are upset and the progressive caucus saying this deal is a cure as bad as the disease, i reject it and the american people reject it, the only thing left to do now is repair the damage as soon as possible. so, the most conservative, the most liberal, are against it. the question is, does the middle support it, and you better believe congressional leaders are counting heads tonight, shep. >> mike emanuel live at the rotunda. and as we've heard this is not going over well with democrats at all. president obama insisted on a balanced plan, and loopholes for big corporations and richest americans, and now the president may have to try to sell a plan with no revenue increases, no tax hikes on the wealthy at all. at least right now.
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ed henry live on the lawn. what is the white house complaint from the left of its party. >> shep, what they're saying is basically trust us. in the first round here, as mike lays out, it will be about a trillion dollars of spending cuts upfront. no tax changes. but in the second round when the special committee of congress comes up, the white house is insisting, look, they'll look at spending cuts and tax changes as well. listen to david ploucke, the second looking at tax reform. and this isn't about playing on a republican playing field. >> there are a lot of liberals in this town who are very skeptical and they believe it's being played on the republican playing field because they've gotten the spending cuts upfront and it's unclear whether or not tax changes will really materialize down the road, shep. >> the complaint all the way from the republicans, the president should have been involved in the negotiations, but he clearly was.
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>> he has been and they're really frustrated here with this narrative, that the president's been on the sidelines. they say one reason why he's kept a low profile in the last week or so, is that john boehner walked away from the walks as the republican speaker and said we're not requesting to work this out with the white house, we're going to try to work it out on the hill. and the president allowed that to happen and he's heavily engaged this weekend and hasn't stopped republicans like kevin mccarthy from going on fox news sunday and saying otherwise. >> the president to me has been somewhat, look, you cannot be the leader of the freeway world and sit on the sidelines and tweet and think you're going to get the job done. we've been out front negotiating, talking, but we've laid out a clear set of principles that we're going to bring accountability back and we're going to change the way washington works. >> and they say that's nonsense here at the white house. the president has been actively engaged in weekend and so has vice-president biden on the phone with leaders. he was up in the senate for some 30 years. there was one power player though today who did go on
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twitter, that was a democrat of alaska, had to wish his son happy birthday through twitter, i'm sorry i'm stuck in washington. >> ed, before we go, two different democratic groups are calling on the president to use the power they believe he has under the 14th amendment to raise the debt limit on its own. and what i've heard, judge napolitano, that's not going to work. >> like mike emanuel said they're frustrated with no tax changes and the congressional black caucus, will have a news conference, they think the 14th amendment to the constitution, think that the debt will not be questioned and they think that gives the president the unilateral power to stop this and there's divided legal opinion on this. and white house aides basically shutting the doors saying they think basically shaky legal ground. as you lay it out the bottom line, do you put together the liberal angst about this or
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the conservative angst about heavy defense cuts. if and when it gets to the house floor in the next 48 hours, it's going to be a wild ride to see if nancy pelosi and john boehner can put the votes for this to pass and avoid default, shep. >> ed henry, our man at the white house, thank you. we're seeing the economic stand off. the dow coming of off its worst week in a year and some experts say we could be in for another rough weak ahead. we'll go live to neil cavuto, what it means for us next and continuing coverage of the debt limit showdown throughout the night here on the fox news channel, from the journal fox news, this is the fox report. >> and keeping revenues off the table i think is a serious mistake. just one phillips' colon health probiotic cap a day
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excuse me? my grandfather was born in this village. [ automated voice speaks foreign language ] [ male announcer ] in here, everyone speaks the same language. ♪ in here, forklifts drive themselves. no, he doesn't have it. yeah, we'll look on that. [ male announcer ] in here, friends leave you messages written in the air. that's it right there. [ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. >> the deadlock in washington left the financial markets in turmoil with stocks posting their single worst week in a year the dow jones industrial average down about 4% last week, losing more than 500
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points in the face of unprecedented and potentially sd disastrous government shutdown or default. even if lawmakers strike a deal by the tuesday deadline the u.s. could lose the coveted triple-a credit rating still. neil cavuto is here with us, your world, on the fox news channel and fox business network, and working all day and night. i've been watching this with interest. is it fair to suggest that no matter what happens here the chance of a credit downgrade is good? >> i think it is, shep. i think especially when you look at some of the tentative numbers and i've got to stress they're still tentative. moody's and s & p and fitch investors, some the rating agencies have laid out some of the guide posts they'd like to see in any sort of a deal cobbled together by democrats and republicans, and the big thing here 4 trillion dollars, they'd like to see 4 trillion dollars in spending cuts the next decade, the deal at least
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as of we know it is in the 3 trillion dollars vicinity. now, that's better than nothing at all, but that would stave off, obviously, a government shutdown, it would-- if approved, it would keep things going, but it would not be to the credit markets liking and they might, might force the issue, that is the credit agencies and go ahead and downgrade us. as i said before, as well, shep, there's a school of thought out there that we don't deserve the triple-a rating we've enjoyed for years through this president and the last president and it would probably be a lilith recognizanre recognizanre recognizanrec-- a little late recognizing that reality. >> and including the days we financed wars. neil, what practically speaking, if the united states credit rating is downgraded, why do i care again? >> if that happens, if all of a sudden we lose the triple-a rating, it falls to double-a.
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and in order to keep bringing investors in and up the ante and analogous to someone's credit report: you'll still get the car loan, shep, with a lower score, but pay more for it, a higher rate for it and that will be effectively be be the effect of the united states. now, the problem with that, shep, is that whatever savings we're talking about, then, are wiped out by whatever higher credit related fees we're facing as a nation as a result. i think the credit line increased will allay the markets, most of them are up a lot right now in futures trading and our dow better than 150 points and our doll is up because they feel some short-term relief at this, but i suspect that there might be a case of investors-buyer remorse on this when they look at the particulars and likelihood, even allowing for the struggle and getting in through, we're still downgraded. i don't think the interest rate impact will be dramatic. i don't think it's going to be a huge hit in rates, but you're going to have to pay folks more to buy u.s.
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treasury debt and that's going to cost more. >> shepard: everybody up there, neil, seems to agree, most everybody, that we need to cut back substantially, that we sent too much. at the same time it's widely believed that the biggest problem we have is a jobs problem. if the government scales down in a big way right now, that means fewer jobs and that means fewer people spending money and more of an economic slowdown. isn't it possible, you could have a rating, yes, we need to cut back, but, no, we don't need to cut back right now. >> it really depends who you talk to, that's been a popular democratic view and republican view, all of this as been in the way of private capital and there in lies the debate. the real fear if you cut too much too soon, you could exacerbate all of this. the real fear, they're not talking about substantial cuts anyway awn won't have to worry about it. most of the cuts are in the outer years, shep. as i said before during the
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day, i don't know what i'm going to have for breakfast this morning, let alone ten years from now, and therein lies the rub. it's a lot of kabuki theater. the only fear to realize getting the government growth under control certainly isn't being done with this deal. >> shepard: no, it isn't. neil live from the rotunda, we'll be watching for you on the fox business network, just up the deal. nine o'clock eastern time 8 central. live coverage on fbn and tomorrow google chairman eric schmidt, during your world, on this channel along with south dakota congresswoman. and that's monday four o'clock eastern time on fox news channel. if congress's haggle and the debt deadline approaches, members are speaking out against their own leader. why one head of a group says president obama entered a
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parallel universe, how is that working for you mrshgs president. and the tea party freshmen, mostly don't listen. he's pushed a bill that initially failed within his own party and now, what is going on with john boehner and his leadership challenges? and analysis just ahead on fox report. re/max agents know their markets, and they care enough to get to know you, too. nobody sells more real estate . visit remax.com today. [ slap! slap! slap! slap! slap! ] [ male announcer ] your favorite foods fighting you? fit back fast with tums. calciumich tums goes to work in seconds. nothing works faster. ♪ tum tum tum tum tums
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. >> shepard: the house speaker john boehner had to rework his debt narrowing bill by doing exactly what the tea party wanted him to do to get it passed and then it narroy passed in the u.s. house of representatives. and in the senate, swiftly rejected it. before all of that, members of his own party delivered a major blow and failed to get them to back his plan. and changes to the bill and
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some say the speaker does not have control of his party and evidence goes back to months and others say the speaker himself, included a quote, balanced budget amendment in his bill to appease the tea party conservatives. with us from capitol hill is fox news political analyst juan williams, author of "muzzled, the adult on honest debate". >> good to see you. >> shepard: and everybody is able to honestly speak on this, preposterous, you might think a balanced budget amendment, it's impossible, it's not going to happen. it's nothingness in a sea of wasted time. >> well, see, this is the key, you would take a two third vote and it's not happening. nothing happening. not relevant to this current effort to raise the debt ceiling. and what you saw take place in over the last few weeks is essentially a weak leader of a house majority and again, shep
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i want to emphasize how extraordinary this is. normally the speaker of the house with a silent majority, can do whatever he or show wants to do. at the moment, pa leadership, essentially a dog being wagged by tail and the tail is the 87 tea party freshmen who just are indifferent to one, the need to make themselves attractive and stay in power for the 2012 election, or, two, they doesn't have the offer of any kind of ear marks, let me give awe bridge, let me put a defense project in your home district, because the republicans are saying, they're not going to do ear marks and essentially they have stripped john boehner and put him in a position where he's trying to appease the tea party at the same time, wasting time. and even accused of spending too much time in trying to achieve a grand bargain with president obama. so, he's taking arrows were all sides. >> shepard: he is, and i think it's important to remember, qualify and quantify what it is that tea party members are doing, hover you want.
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one of the facts is that these tea partiers campaigned on this very promise. i will not do the following things, ab and c and now they're not doing them. who in the world is surprised that they've put government in gridlock. told us in ambulance they were going to do it. >> you know what? i plead guilty. >> do you? >> now what? normally people go through a campaign sickle, shep, and say here is my promise, what i'm going to do and then they get to washington and the older, advisor heads of leadership, boehner, mcconnell and others, take control and say, young man, young woman here is how we get things done and the sausage is made. trust me, i'll help you got reejected. well, in this case, i thought he they would do just that, but instead have continued into a campaign cycle and do things like i am operating on pure principle and nothing can move me, i'm the not going to talk to the speaker, have
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prayer group which is the five from south carolina did. >> shepard: on top of this, you have a president, man, a president who has promised and promised and promised on so many different fronts, we can go back to guantanamo, go back to ending wars and the list is getting longer and longer and he got no revenue and got no real substantial cuts in entitlement. does this president even have a base anymore. i don't think that everybody is going to abandon him, but what you're picking up is the strong sense of disappointment, even disillusionment, i don't want to overstate the case, a the lot of people think he's not standing tall. remember, the criticism that comes from republicans in this environment is that president obama has not shown leadership. most often, it's cast in terms of where is his plan. but, from the left, the criticism is, why don't you fight? why don't you stand up for what you believe in? why are you letting yourself get run over. are you in fact, courting the independent votes by creeding
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the argument that this should all be about cuts and not about shared sacrifice, raising taxes on the very rich as part after effort to deal with the debt crisis in the country. >> shepard: how doe see this ending? by tuesday, do you think we'll be okay. >> i didn't think we'd get here. i'm your political analyst, but, i don't see how we can get a deal if everybody says i'm not subject to compromise, compromise is a dirty word. this is a different kind of politics and we are on the edge of a precipice. we haven't been in this territory in my lifetime, shep. >> shepard: no, we haven't. and from time to time. juan williams on sunday evening, good to see you, thank you. >> all right. >> shepard: there's new evidence that the nation could be headed for another recession. and the stalemate in washington could make things much, much worse. a look at what's at stake for the average american everyday folks, that's coming up, plus, a hand l of lawmakers refusing to compromise at all, on a
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crucial deal to raise the debt ceiling. a matter of principle. is it really? isn't it really political gamemanship? we'll report, you decide, bottom of the hour headlines coming up. . >> sometimes people are just so firm in their beliefs that they think that they have to vote against the debt ceiling increase even though the majority of us can vote the republican and democratic party, believe that that would be a mistake. an accident doesn't have to slow you down. with better car replacement, if your car is totaled, we give you the money for a car one model year newer. liberty mutual auto insurance. for dentists, the choice is clear. fact is, more dental professionals brush with aal-b toothbrush than any other brush. trt the brush more dentists and hyenists use, oral-b.
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>> news of the debate tops our hour. and reports that it could take months before it learned what caused the crash after small aircraft in western ohio, the bi-plane the replica of the one the wright brothers used. both pilots died when they came down outside of springfield. they did have experience flying this sort of craft. a blame game between a nevada trucking firm and two railroad companies after a deadly collision. counter suing amtrak and filing suit against union pacific and failed to warn drivers, even if they used the track that they used. the crash happened in reno, en route to san francisco and the truck barreled into tkilled six and injured dozens more. no comment from union pacific
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or amtrak. i'm shepard smith, this is the fox report. it's the bottom of the hour, time for the top of the news. we're told congressional leaders are close to a debt limit deal. no word of plans for an actual vote, at least not tonight. as you can see, the senate is in recess, but if they don't do something, the united states will go into default. unprecedented event that could see an economic tailspin. already there are indication that is we may be headed for another recession and a new government report indicates that gross domestic product, gdp, has slowed, and gdp is the measure of products, and growth is about half the normal rate and far weaker than most analysts expected. gerri willis at the top of the hour, anchors on the fox business network.
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how might this crisis play into a double dip recession. >> the colonels are pulling back and new numbers this week, consumer sentiment down, consumer spending down. on top of that, one bright spot in this recovery, that is, manufacturing. and had its worse showing since 2009 in the the most recent quarter. so the economy at a tipping point. if it gets more bad news we could certainly go back to recession, shep. >> shepard: if a default hits, i guess it's anybody's guess. that's the would is it of the bad news and what would that do? neil mention that had stocks could take a hit and a default, a broad selloff would hit our 401(k)'s, ira's and keogh's and prompt interest rates to rise, spike, maybe to double digit level. your mortgages if you're trying to re-fi and might be almost impossible to do and student loans would have higher rates of interest, car loans, small business loans and the most important of these are probably mortgages. the housing market in big time
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trouble and small business loans, the folks who could hire people and make a dent on that 9.2% unemployment rate. >> shepard: gerri willis from fox business, we'll watch for you week nights at 5 eastern on the fox business network, the fastest growing business network, news on television. senate minority leader mitch mcconnell dismissing reports that the tea party is holding the republican party hostage. some political analysts have suggested, and in fact, seemed to indicate that the movement which helped put the number of g.o.p. freshmen in congress higher, is forcing the party's legislative hand. the minority leader though, suggests it's part of the political process. . >> okay, we don't have anymore internal differences in the republican conference and house and senate than in the democratic conference in house and senate. there are different points of view and we come from different parts of the country and we have different philosophies. one thing republicans all have in common, they want a smaller government and they don't with a nt to raise taxes and i
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think that republicans are broadly united. >> the number of democrats especially under the liberal base that helped to elect president obama are blasting the newest details in the debt deal. the head of the liberal group progressive change committee says seeing a democratic president take taxing the rich off the table, and instead, push a deal that will lead to social security, medicare and medicaid cuts is like entering the bizarre parallel universe. john bussy is with us the assistant managing he had terry of the wall street journal, owned by the parent company this have network. mitch mcconnell can say whatever he wants to say for purpose of politics and keeping people calm. this is divided as we've seen the republicans, i don't know, that i can remember. >> and we called what division can produce when boehner had to stop deliberation on his original bill, because he couldn't rally enough. this is the speaker of the house. couldn't rally the forces necessary to get it passed. >> is he in trouble? >> i don't know. if we're looking at this now, i think that what jerry was
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talking about earlier, about the bad things that could happen, really, the conversation is beginning now to shift to what looks like a possible solution taking shape. and we kind of knew that some progress like this was going to probably have to evolve. it looks like, no one is going to really be happy with this, but enough of the decision making is going to be forced off into the future that you're going to be able to address some the concerns of both the right and the left. the left is really concerned that taxes aren't on the table to begin with, but a complete look at possible overhaul of the tax code in its entirety would be injured by this commission of 12 senators who would be put in kind of a position to look at all sorts of possible cuts and all sorts of possible revenue increases. >> a super congress that would have super powers fwhat we've been told about this so far we're led to believe. >> that's right, there's also, with sort of an indication of the likelihood that a solution is being found now, is that
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there's already a fight over who is going be to be on that commission, which is suggesting that people are beginning to look made past this immediate crisis. >> we do have two problems, you know, both sides would like to say it's only one problem here, but there are two. one is spending, one is revenue. so you've got to cut spending and raise revenue in one way or another to make the numbers work here, and there's not a single bill out there that does that, none of it fits those needs and it doesn't deal with any long-term entitlement problems, and we still have the exact same disastrous situation prior to any bill that might get signed after it's done and we put us through kabuki theater. >> the ratings agencies have to look at this and say, you know, something, there's actually in this thee stage kind of arcane process, we don't have a bill yet and a vote scheduled yet. a lot has to happen between now and august 2nd which suggests some kind of interim debt raising, ceiling cap raise, just to let people have a chance to work, but that
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there are a lot of things on the table now, entitlements will be discussed in the second phase and in the third phase. taxes are going to be discussed in the second and third phase so there's plenty more that's going to divide people, but at minimum, washington really is talking about cutting its budget and probably down the road in some manner, raising revenues. >> shepard: and there -- part of this is there has to be guarantees, it appears the most important thing that's actually been accomplished the last week is naming of a post office in peoria. they actually did get that done. asaid from that this congress hasn't accomplished anything. >> the triggers set nup this process or that would be set up if this goes forward and still because it's conditional and those triggers are obviously meant to deal with the fact that no one can really trust the congress to actually act in that second and third phase. so, they're talking about kind of automatic cuts that would happen in things like the defense spending. that would create such a--
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some of the entilement programs, a powerful, political upswelling that would probably cause congress to go back and deliberate on these things more carefully. >> they've always seem to be more best and effective when doing nothing, in this case if they had done nothing they could have saved us more than 2 trillion dollars by letting the bush tax cuts expire. i'm not saying that that is going something that i would advocate. just letting the tax rate get back to the clinton era, where we're in an enormous boom in this country and letting us go back there would knock off 2 trillion dollars and the won't car that after the president promised to do that, it's mind-boggling. >> i think that that kind of comes up in the next phase, but you have to remember back at the end of last year, that was on the table there wasn't the political will to let that happen. >> shepard: no political will to let anything happen. john, good to see you. john busse from the wall street journal. >> we're two days from
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political disaster, at least potential political disaster, politics is already a disaster. while the nation has a history of climbing out of pretty deep holes, the the experts say we may be running out of options. best shot at damage control? that's coming up. >> while contingency plans being done there are no options and they're dire and that's why the focus has to be on finding a bipartisan agreement as quickly as possible. naturals from delicious, real ingredients with no artificial flavors or preservatives. naturals from purina cat chow. share a better life. ♪ [ cat meows ]
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[ automated voice speaks foreign language ] [ male announcer ] in here, everyone speaks the same language. ♪ in here, forklifts drive themselves. no, he doesn't have it. yeah, we'll look on that. [ male announcer ] in here, friends leave you messages written in the air. that's it right there. [ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. it's the cleanest, clearest water. we find the best, sweetest crab for red lobster we can find. yeah! [ male announcer ] hurry in to crabfest at red lobster. the only time you can savor three sweet alaskan crab entrees all under $20, like our hearty crab and roasted garlic seafood bake or sn crab and crab butter shrimp. [ jon i wouldn'tut it my table at home, i wouldn't bring it in. my name's jon forsythe, and i sea fd differently.
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>> interest rates would go up and the deficit that we hate including them would go up. we know that average families would pay more than $1,000 interest increases on their mortgage, car loan and credit card rates. >> we're going to have to work together to get the job done for the american people. >> well, we've got two days and we've reported earlier about what default could do to our weakened economy. what about our ability to bounce back? as it stands the government is strugging cushioning the blow
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from the housing bust and the recession and white the white house uses bailouts and stimulus packages to revive the economy in the past, the experts say we can't necessarily relien those items, especially as they look to cut spending not spend more. and it seems like if you need more money flowing, more people involved in the economy, more people spending and travelling. what you want to do is not hire fewer people, but spend more money. why is that logic not right? why would that be the time to cut back? >> this is the time to provide more certainty and stability in the economy and when we look at this discussion that we're having in washington, we're doing the opposite. people have disinvested because they don't know what to expect going forward. when you look at the market, people say that it's been baked in, that investors already have accounted for this, but we traded to the down side for the past week.
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and so, the resilience of our economy has been compromised because the underlying fundamentals, the grosse pointe woods numbers, the housing starts, all of those numbers are weak. and that's the problem. >> our biggest problem is jobs. and those who are causing the bigge biggest ruckus in all of this debate want the government to pare down more, more employed than unemployed. wouldn't that be worse if we're doing what they try to get us to do? >> it could, we try it deal with the deficit issue and spending issue. >> shepard: i see. >> when we talk to ceo's, ceo's don't know what to do in terms of hiring, they don't know what to do in terms of what their tax liabilities are going to be going forward. so, once again, we need to provide some level of stability. if you look at traditionally recession, and how recessions come about, they're always
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precipitated by bad leading economic indicators, like grosse pointe woo gdp, unemployment. we cannot afford to have a figure event such as a default or a credit rating down grade because any of the headlines could spark panic in the market and that's the critical thing here, a recession is not out of the range of possibilities because as you said, all of the levers that we traditionally pulled to try to avoid these things, we've already pulled them and there isn't a lot more we can do than to provide certainty for investors and for consumers. >> shepard: a lot of analysts we saying to us over the past trading week. they looked at the market, one good sucker punch away from a freefall that you couldn't stop. is that true? is that fear mongering? what is that? >> no, no, shep, i think it's really true. if you look at for instance, the lehman brothers fall, what
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happened, what precipitated that? what came before that was the fact that our numbers were bad, a similar situation, they were the worst fundamental numbers that we'd seen in 30 years, so it wasn't that one thing that triggered it, it was the combination of having a bad economy, when you think about being sick, when you're run down, right, and you're exposed to bacteria. that's when you get sick, get a cold, but when your immune system, the foundation is strong, you're able to actually fight that off. our immune system is weak and compromised and we are just one sucker punch away from a potential catastrophe. >> shepard: wow, well, hopefully they can get this done, get something done. lee hawkins, good to sigh. other news tonight we'll get back to the debt ceiling in a moment. new information on the u.s. soldier accused of plotting a brand new attack at soldiers on fort hood's army post. police found enough possession
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of this man for not one, but two bombs. last week we had the heat dome and now sure enough, more brutally hot and muggy weather across the the u.s. it's hard to imagine you have brutally hat weather in the middle of august, isn't it? so weird. (laughter) sometimes miracles get messy. so we use tide free. no perfumes or dyes for her delicate skin. brad. not it. not it. just kidding. that's our tide. what's yours? you have arrived. sweet belt. e-reader for textbooks. gps. hd video cam for lectures. game pad. have you considered this by motorola ?
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>> keeping a watchful eye on capitol hill. they're close to a compromised deal so the government can pay its bills. as it stands there are no deals. and time is running out. updates on fox report. a law enforcement official tells the united states soldier accused of plotting an attack near ford fort hood was all ready to go with enough to make two bombs. one counterterrorism source
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saying that abdo's strategy came straight from an issue of al-qaeda magazine. the article titled, make a bomb in your kitchen of your mom." when police tracked down abdo in a hotel room they found a copy of it along with gun powder, a pressure cooker and 18 pounds of sugar and another source confirms they've kennedy two more soldiers about the man and on the heels of the outburst during which he shouted out the name of the former army psychiatrist, major hassan, the suspect in the 2009 last kerr at fort hood. two years after hikers were arrested as spies, word that judge could finally announce verdicts for two next week, a representative of the lawyer of josh fattal and bauer, they were arrested along with sarah shourd in the kurdistan
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region, near the iran-iraq border. they all deny wrongdoing. officials released sarah shourd last year on what they call humanitarian conditions, because of her health. >> getting on the plane in tehran was one of the the most important moments of my life. this is not a time of celebrating my disappointment not sharing with with shane and gosh was crushing and i stand before you today only one third free. >> the lawyer for the two detained, says if they find them guilty he's hoping the judge will sentence them to time served so they can finally go home. fox weather alert, another dangerous heatwave across the u.s. dallas, it's been like a month every day over a hundred. supports of oklahoma suffered 100 degree temperatures every day in july and meantime, another line of storms pounding eastern pennsylvania with wind and rain and
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meteorologist maria molina live in the weather center, man, where is the heatwave going? >> not going anywhere, shep. it's going to continue as we head into most of next week, and it's just a big high pressure system across central portions of the u.s. and why it's so hot and going to continue to be so and it's not just the hot temperatures, but how humid it is out there and makes things worse. so when you factor in the humidity into the temperatures and you've got the heat index value and take a look at values out there right now. and 111 in kansas city and 104 in minneapolis and it's dangerous so you have a number of excessive heat warnings as well as heat advisories across portions of the u.s. and we could see values up to 115 and many of them will remain in place as we head to next week, as we mentioned dallas, texas 30 days in a row of temperatures of 100 degrees or more, the second largest 100 degree streak on record.
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the largest 42 days and we're on the way to breaking that one. triple digits most of next week and a the lot of sunshine, the other problem out here as well is the drought conditions, so we're not going to see any rain as well. >> big d, hot in july. maria molina, thanks so much. congress's big moment of truth is around the corner. the senator majority leader signing off on a potential debt limit plan that could keep the u.s. from a potentially national default. that is if lawmakers on both sides of the aisle decide to go along with the vote and that's not a certainty. what to expect in the hours ahead. that's next as fox reports live tonight. small continuou. only one calcium supplement does that in one daily dose. new citracal slow release... continuously releases calcium plus d for the efficient absorption my body needs. citracal.
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you know, the ones find a who do a super job?in. superpages.com®. for local maps, reviews and videos & it's the only local search site with the serguarantee®. so next time, let the good guys save the day. get the superguarantee®, only at superpages®. in the book, on your phone or at superpages.com®. >> three months ago this president laid out that he wanted a debt ceiling with no cuts whatsoever. now we're talking something much different, many cuts before you you get to raise it. the idea that no tax increases that this president wanted. >> we'll all have to take a look and we all may not be able to support it or none of us may be able to support it, but we'll wait and see when
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we're open to what comes down, the cuts, again. >> they're getting higher by the moment. senate leaders from both parties say they're close to a deal to raise the nation's debt limit. majority leader harry reid says he'll support it if fellow democrats do, too, as you heard, not all democrats are on board. the plan does not include new revenues, no tax hikes on the richest americans, no taxes on corporations at least not right away. and raise the limit 2.4 trillion dollars to take us to 2013. a trillion dollars in spending cuts up front and then a special committee would recommend another 1.4 trillion in cuts to match the rest of the debt limit increase. if congress doesn't approve the committee's ideas by the end of the year, ought mattic cuts would kick in, including cuts to medicare and cuts to the pentagon. the plan also calls for a vote on a balanced budget amendment
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which is preposterous, it won't go anywhere and liberal democrats say it will give the wealthy a free pass at the expense of working people and some conservatives republicans say they have problems with the defense cuts in the proposal. leaders of both parties suggest it's only that, a proposal, but they're running out of time to come up with a final plan. and on this day in 1975, union superstar jimmy hoffa disappeared. jimmy hoffa was a natural leader who oozed charisma as one the president of one of the largest unions, teamsters, fought and won battles for american workers, not all of his tax particular were legal. he served five years after 13 year sentence for attempted bribery and president nixon commuted the sentence and then one day, hoffa went to a detroit restaurant, and never came home. his death, if it was that, remains a mystery, despite several searches and rumors that the mafia took him out, but a union giant certainly vanished, 3